All posts by Afolabi Ogunde

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  PARE Seeks N 5 billion to Establish Grazing Reserves in Northern Nigeria

  Pastoral Resolve (PARE), a non-governmental organization focused on solving the perennial conflict between farmers and pastoralists occasioned by poor access to land and water, is looking to raise N 5 billion in order to establish six grazing...

  • Posted June 7, 2012
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  CAMAC Energy Wins Two Oil Blocks in Gambia

  CAMAC Energy Incorporated has announced that it had signed Petroleum Exploration, Development & Production Licences with The Republic of The Gambia for two previously awarded offshore exploration blocks, A2 and A5 (“the Blocks”). The Blocks, which are...

  • Posted June 7, 2012
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  NNPC Diverted N 3 trillion from Federation Account – Reps

  The Nigerian National Petroleum Corporation (NNPC) has been accused of diverting N 3 trillion from the Federation Account by the House of Representatives Joint Committee on Finance, Petroleum Upstream, Petroleum Downstream and Gas Resources. The Committee recommended NNPC...

  • Posted June 7, 2012
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  Nigerian Stock Exchange Watch: ASI Downturn Sustained by Price Fall in Dangote Cement (-5%) and Nigerian Breweries (-1.19%)

  The All Share Index shed 115 points in today’s trading largely due to a price drop in the bourse’s most capitalized stock, Dangote Cement (-5%). Another notable price drop was Nigerian Breweries (-1.19%). The banking sub-sector saw...

  • Posted June 6, 2012
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  Oil rises toward $100 on U.S. data, eyes ECB

  Oil rose toward $100 a barrel on Wednesday as supportive economic and crude stocks data from the United States outweighed pressure from Europe’s lingering debt crisis. Brent crude rose more than $1.10 to $99.94 before easing back to...

  • Posted June 6, 2012
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  CBN Says Banks Can do Better on Agriculture

  The Central Bank of Nigeria on Tuesday lamented the 1.7 per cent lending by banks to the agricultural sector, saying there was a need to increase funding to the sector in order to reduce the country’s food...

  • Posted June 6, 2012
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  Omotosho Power Plant Adds 120 MW to National Grid

  The China National Machinery and Equipment Import and Export Corporation has said the Omotosho Power Plant in Ogun State is now adding 120 megawatts of electricity to the national grid. The Managing Director of the company, Mr....

  • Posted June 6, 2012
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  Lagos can sustain up to 40 million people – Fashola

  Participants in the just-concluded Future Cities conference have said the summit provides a good platform for cross fertilisation of ideas to address the myriad challenges that confront Africa’s urban cities. They commended Economist Conferences, organisers of the conference, for contributing...

  • Posted June 6, 2012
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  Gitto Construction Dragged to Court Over N 4.2 billion Diamond Bank debt

  Gitto Construction has had winding up petition instituted against it by Diamond bank due to the Italian firm’s refusal to pay a N 4.2 billion debt back to the bank. The matter has been taken to the...

  • Posted June 6, 2012
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  Appeal Court Rules in Favour of Abebe, Orders Statoil to Pay $ 25 million

  A Court of Appeal sitting in Lagos has ordered Statoil to pay John Abebe, brother-in-law to former President Obasanjo, US$ 25 million for consultancy services his company, Inducon rendered in securing lucrative upstream deals. Abebe had earlier...

  • Posted June 6, 2012
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